Phillips 66 Partners LP (NYSE:PSXP) Expected to Post Earnings of $1.13 Per Share

Wall Street analysts forecast that Phillips 66 Partners LP (NYSE:PSXP) will report $1.13 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Phillips 66 Partners’ earnings, with the highest EPS estimate coming in at $1.36 and the lowest estimate coming in at $1.07. Phillips 66 Partners reported earnings per share of $0.94 in the same quarter last year, which would suggest a positive year over year growth rate of 20.2%. The firm is expected to report its next quarterly earnings results before the market opens on Friday, July 26th.

According to Zacks, analysts expect that Phillips 66 Partners will report full-year earnings of $4.47 per share for the current year, with EPS estimates ranging from $4.24 to $4.88. For the next financial year, analysts expect that the business will post earnings of $4.71 per share, with EPS estimates ranging from $3.96 to $5.86. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Phillips 66 Partners.

Phillips 66 Partners (NYSE:PSXP) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.06). The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $366.55 million. Phillips 66 Partners had a return on equity of 47.98% and a net margin of 52.90%. Phillips 66 Partners’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS.



A number of brokerages have recently commented on PSXP. ValuEngine cut WideOpenWest from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, July 16th. Mitsubishi UFJ Financial Group raised their price target on Twilio to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Mizuho set a $71.00 price target on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $56.82.

Shares of Phillips 66 Partners stock traded up $0.32 on Tuesday, reaching $51.72. The company had a trading volume of 251,713 shares, compared to its average volume of 258,267. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 2.89 and a beta of 1.04. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 1.94. The firm’s 50-day simple moving average is $49.93. Phillips 66 Partners has a 1 year low of $40.76 and a 1 year high of $55.02.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.855 per share. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.85. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Tuesday, July 30th. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 84.50%.

In other news, VP Kevin J. Mitchell bought 2,651 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $49.14 per share, with a total value of $130,270.14. Following the transaction, the vice president now directly owns 2,651 shares in the company, valued at approximately $130,270.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. Mitchell bought 7,349 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $48.50 per share, with a total value of $356,426.50. Following the completion of the transaction, the vice president now owns 10,000 shares in the company, valued at $485,000. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC raised its position in shares of Phillips 66 Partners by 1.6% in the 4th quarter. Barclays PLC now owns 212,007 shares of the oil and gas company’s stock worth $8,927,000 after acquiring an additional 3,303 shares in the last quarter. GYL Financial Synergies LLC bought a new position in shares of Phillips 66 Partners in the 1st quarter worth $381,000. SG Americas Securities LLC raised its position in shares of Phillips 66 Partners by 3.5% in the 1st quarter. SG Americas Securities LLC now owns 20,468 shares of the oil and gas company’s stock worth $1,072,000 after acquiring an additional 698 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Phillips 66 Partners by 56.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 32,136 shares of the oil and gas company’s stock worth $1,682,000 after acquiring an additional 11,585 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of Phillips 66 Partners by 27.6% in the 4th quarter. MetLife Investment Advisors LLC now owns 195,393 shares of the oil and gas company’s stock worth $8,228,000 after acquiring an additional 42,243 shares in the last quarter. 43.32% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Partners Company Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.

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Earnings History and Estimates for Phillips 66 Partners (NYSE:PSXP)

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